Colorado Marijuana Sales Continue Breaking Records in August

Hello Connecticut…what are you waiting for? It’s time you open your eyes to Mile High and further.

Remember when Connecticut was believed to be ahead of the curve and was considered to be progressive. What happened? We, collectively as a state, need new revenue streams to generate income and taxes in order to create new opportunities. Other states have legalized recreational cannabis and are creating a ton of buzz which generates intrigue while deconstructing stereotypes. This is a true example of leadership. It’s time we invite integrity back into the halls of LOB in Hartford.

Colorado’s marijuana industry continued to break records in August, according to the state’s Department of Revenue, with legal marijuana sales bringing in over $141.3 million that month.The previous record had been set just the month before.

Sales began to rev up in June, DOR data shows, when overall dispensary revenues hit $129.5 million after a slow start to the year. Even more money was spent on pot in July, when the industry brought in a then-record $138.5 million, just beating out August 2017 for the highest monthly total since recreational marijuana sales began in January 2014.

As with June and July, August’s numbers were pushed by increasing recreational sales, which hit just under $113 million: the highest retail pot sales in Colorado history. Medical sales also increased, though, rising just under $1 million month-over-month to $28.3 million. That’s two straight months of increasing medical marijuana sales, right after MMJ hit its lowest number since 2014 in May.

Marijuana sales generally peak in August or September in Colorado, with earnings dropping as the temperature does. So far, however, it looks like commercial sales in California, which began in January 2018, haven’t cut much into Colorado’s business.